C3is (NASDAQ:CISS) Releases Quarterly Earnings Results

C3is (NASDAQ:CISS) announced its quarterly earnings results on Thursday. The company reported ($4.86) earnings per share for the quarter, FiscalAI reports. C3is had a return on equity of 0.35% and a net margin of 16.09%.

Here are the key takeaways from C3is’ conference call:

• Net income turned positive — the company reported net income of $10.5 million for 2025 (vs. a $3.0 million loss in 2024) and cash rose to $14.9 million despite paying the $15.1 million Eco Spitfire balance.
• Voyage revenues and TCEs declined — voyage revenues fell 18% to $34.8 million and time-charter-equivalent rates dropped 28%, mainly due to 74 non-revenue/idle days from dry docking the Aframax.
• Balance sheet leverage materially improved — the company says it is fully deleveraged with no bank debt after repaying related-party acquisition balances and has paid all CapEx obligations without bank financing.
• Fleet expansion underway — C3is operates 300 Handysize vessels plus one Aframax and has acquired two product tankers due in 2026, increasing fleet capacity since inception by ~387% and adding unencumbered, non-Chinese-built vessels.
• Reported metrics contain a material discrepancy — management cited EBITDA of $17 million in the CFO remarks but the CEO later referenced EBITDA of $70 million, creating transparency and reporting clarity concerns.

C3is Stock Up 31.1%

NASDAQ:CISS opened at $2.19 on Friday. The stock has a market capitalization of $2.23 million, a price-to-earnings ratio of -0.01 and a beta of 1.96. C3is has a 52 week low of $1.35 and a 52 week high of $134.38. The firm has a 50 day moving average of $3.07 and a 200 day moving average of $31.33.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of C3is to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3is in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Trading of C3is

Several hedge funds and other institutional investors have recently made changes to their positions in CISS. Citadel Advisors LLC acquired a new stake in shares of C3is in the 3rd quarter worth $29,000. L1 Global Manager Pty Ltd purchased a new stake in C3is in the fourth quarter valued at about $198,000. Finally, Wexford Capital LP boosted its holdings in C3is by 460.1% in the third quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock worth $240,000 after acquiring an additional 92,014 shares in the last quarter. Hedge funds and other institutional investors own 10.54% of the company’s stock.

C3is Company Profile

C3is Inc offers international seaborne transportation services. It provides its services to dry bulk charterers, including national and private industrial users, commodity producers and traders, oil producers, refineries, and commodities traders and producers. The company owns and operates a fleet of two drybulk carriers, which transport major bulks, such as iron ore, coal and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers, and one Aframax crude oil tanker that transports crude oil.